Forbes magazine released its new list of the 400 Richest People in America. Bill Gates, founder of Microsoft Corp. topped the overall list with a net worth of $59 billion and remains the nation's richest individual since eight years, according to Forbes. He has been the wealthiest American every year since 1994.

Warren Buffet, who is the third richest man in the world, leads at second spot in the list. Buffet is the U.S. investor who recently urged President Obama to hike taxes for millionaires.

Wal-Mart siblings, Jim and Alice Walton, make the ninth and tenth spot, respectively.  John Walton’s wife, Christy, is the world's richest woman with $24.5 billion, which she inherited when John Walton died in an accident.

The head and Vice President of Koch industries- Charles Koch and David Koch are not far behind. The brothers share the same spot with $25 billion net worth each.

Investor George Soros, 81, has for the first time made it to the list of the 10 richest Americans and is the most surprising billionaire to have made the seventh spot in the Forbes list.

Meet the top five wealthiest Americans.